India's top 7 companies lose market value of 15,000 cr in 7 days

The combined market valuation of India’s top seven companies declined by Rs 14,968 crore last week, with energy major RIL alone taking the steepest hit of Rs 5,080 crore.

Reliance Industries Ltd (RIL), TCS, Coal India, HDFC Bank, NTPC, Infosys and HUL saw losses in their market capitalisation (m-cap), while ONGC, ITC and SBI recorded gains.

The m-cap of RIL fell by Rs 5,080 crore to Rs 2,59,877 crore last week. Shares of RIL also saw selling pressure, falling nearly 2 per cent as weak quarterly earnings remained a worry, analysts said.

RIL last week reported its fourth consecutive drop in quarterly net profit, hurt by weak demand and lower natural gas output, but sequentially its earnings rebounded.

RIL’s July-September net profit at Rs 5,376 crore, fell 5.7 per cent from Rs 5,703 crore in the same period of previous fiscal.

After RIL, CIL emerged as the second biggest loser in the top-10 list as its market value slipped Rs 3,601 crore to Rs 2,23,409 crore.

NTPC’s m-cap declined Rs 1,978 crore to Rs 1,37,122 crore, while the value of HUL (Hindustan Unilever Ltd) declined Rs 1,556 crore to Rs 1,22,447 crore and TCS shed Rs 1,536 crore to Rs 2,52,540?crore.

Similarly, Infosys’ m-cap fell by Rs 709 crore to Rs 1,36,856 crore and the valuation of HDFC Bank slipped Rs 508 crore to Rs 1,48,276 crore during the week gone by.

In contrast, ITC added Rs 11,391 crore to its m-cap, taking it up to Rs 2,33,724 crore, while ONGC’s value moved up by Rs 1,497 crore to Rs 2,38,740 crore. The worth of SBI rose by Rs 406 crore to Rs 1,51,431 crore.

RIL, however, remained at the numero-uno position in the top-10 chart, followed by TCS, ONGC, ITC, CIL, SBI, HDFC Bank, NTPC, Infosys and HUL.

PTI